Crypto Daily Report – August 15
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The combination of consumer sentiment and unemployment data has provided fuel to support the soft-landing scenario. UMich consumer sentiment came in higher-than-expected (69.4 vs. 62.0), 1-year inflation expectations dropped significantly from 4.5% to 3.1%, and the unemployment rate came in at 3.7% vs. 3.9% expected. Anchored inflation expectations and lower unemployment are giving investors optimism that inflation can retreat while the U.S. avoids a recession, driving the SPX (+0.30%) and...
Equities are attempting to break a three-day losing streak, with the S&P rising 0.7% and the Nasdaq up 1.5% ahead of tomorrowâs jobs report. Economists polled by Dow Jones expect 190k additional jobs added in November, an increase from the prior month. Investors are eagerly awaiting indications that the labor market is settling down, which could reassure the Federal Reserve to stop increasing interest rates. BTC -0.50% is beginning to show...
Equities are flat after initially climbing following government data that showed labor market costs fell while productivity remained robust. Investors await confirmation from tomorrowâs jobless claims numbers, followed by nonfarm payrolls, wages, and unemployment rate on Friday. Long-term yields have fallen sharply after peaking near ~5% in October, with the 10Y and 30Y yielding 4.1% and 4.2%, respectively. BTC -0.50% has continued climbing, rising 0.6% to $43.9k. ETH -0.66% is underforming, falling...
After opening negative, equity indices have turned positive following the release of JOLTS data showing 8.7 million job openings versus 9.3 million expected, displaying further softening in the labor market. The market continues to pull forward the timeline of the Federal Reserveâs first rate cut, projecting a 55% chance of a March cut compared to a 25.6% chance a month ago. Within crypto markets, all eyes are on BTC -0.50% (+3.96%) as...
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